By Robert Elgie, Helen Thompson

This publication is a examine of strength. specifically, it's a learn of governmental energy in Britain and France. Its concentration is the altering courting among the govt. and the vital financial institution within the international locations, and it examines the politics of this dating because the time while the financial institution of britain and the financial institution of France have been first created. The e-book starts by means of contemplating the difficulty of governmental keep watch over commonly. It then makes a speciality of financial coverage making, and asks what has been the position of governments during this region and what freedom have primary banks loved? After an in depth old research of this factor in Britain and France, the authors finish via contemplating the most likely position of the eu critical financial institution.

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Extra resources for The Politics of Central Banks (Routledge Advances in International Relations and Politics, 7)

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Conclusion The next four chapters examine the relationship between the core executive and the central bank in Britain and France. In each case, the relationship is examined from the time at which the bank was founded to the present day. In so doing, the aim is to explore the politics of the core executive/central bank relationship both across time and cross-nationally. Moreover, in each case the relationship is examined both semiquantitatively (based on the calculations set out in Appendix 2 and Appendix 3) and qualitatively.

Second, it also indicates that there are likely to be small differences in the degree of independence even between seemingly proximate central banks. This finding corresponds to the further intuition that similar central banks are unlikely to operate identically. For example, even if the Bundesbank and the Swiss central bank are in many ways alike, they do not operate in precisely the same manner. So, this approach encourages comparison, but not overgeneralisation. For both of these reasons, the methodology devised by Cukierman et al.

However, this time, the French and Swedish central banks were located together in one cell; the Belgian, Canadian, Dutch and Italian banks were classed together in another cell; and the Australian, British and Japanese central banks each occupied separate cells on their own. By adopting this methodology, therefore, Parkin was able to draw rough distinctions between different types of relationships between core executives and central banks. Other writers have adopted an approach which has allowed them to construct indices of independence.

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